Common use of TSP’s Event of Default Clause in Contracts

TSP’s Event of Default. The occurrence and continuation of any of the following events shall constitute a TSP Event of Default, unless any such TSP Event of Default occurs as a result of any non- fulfilment of its obligations as prescribed under this Agreement by the Nodal Agency or a Force Majeure Event: a. After having taken up the construction of the Project, the abandonment by the TSP or the TSP's Contractors of the construction of the Project for a continuous period of two (2) months and such default is not rectified within thirty (30) days from the receipt of notice from the Nodal Agency in this regard; b. The failure to commission any Element of the Project by the date falling six (6) months after its Scheduled COD unless extended by Nodal Agency as per provisions of this Agreement; c. If the TSP: i. assigns, mortgages or charges or purports to assign, mortgage or charge any of its assets or rights related to the Project in contravention of the provisions of this Agreement; or ii. transfers or novates any of its obligations pursuant to this Agreement, in a manner contrary to the provisions of this Agreement; Except where such transfer is in pursuance of a Law and i. it does not affect the ability of the transferee to perform, and such transferee has the financial and technical capability to perform, its obligations under this Agreement; ii. is to a transferee who assumes such obligations under the Project and this Agreement remains effective with respect to the transferee; d. If:

TSP’s Event of Default. The occurrence and continuation of any of the following events shall constitute a TSP Event of Default, unless any such TSP Event of Default occurs as a result of any non- fulfilment of its obligations as prescribed under this Agreement by the Nodal Agency or a Force Majeure Event: a. After having taken up the construction of the Project, the abandonment by the TSP or the TSP's Contractors of the construction of the Project for a continuous period of two (2) months and such default is not rectified within thirty (30) days from the receipt of notice from the Nodal Agency in this regard; b. The failure to commission any Element of the Project by the date falling six (6) months after its Scheduled COD unless extended by Nodal Agency as per provisions of this Agreement; c. If the TSP: i. assigns, mortgages or charges or purports to assign, mortgage or charge any of its assets or rights related to the Project in contravention of the provisions of this Agreement; or ii. transfers or novates any of its obligations pursuant to this Agreement, in a manner contrary to the provisions of this Agreement; Except where such transfer is in pursuance of a Law and; i. it does not affect the ability of the transferee to perform, and such transferee has the financial and technical capability to perform, its obligations under this Agreement; ii. is to a transferee who assumes such obligations under the Project and this Agreement remains effective with respect to the transferee; d. If:

TSP’s Event of Default. The occurrence and continuation of any of the following events shall constitute a TSP Event of Default, unless any such TSP Event of Default occurs as a result of any non- non-fulfilment of its obligations as prescribed under this Agreement by the Nodal Agency or a Force Majeure Event: a. After having taken up the construction of the Project, the abandonment by the TSP or the TSP's Contractors of the construction of the Project for a continuous period of two (2) months and such default is not rectified within thirty (30) days from the receipt of notice from the Nodal Agency in this regard; b. The failure to commission any Element of the Project by the date falling six (6) months after its Scheduled COD unless extended by Nodal Agency as per provisions of this Agreement; c. If the TSP: i. assigns, mortgages or charges or purports to assign, mortgage or charge any of its assets or rights related to the Project in contravention of the provisions of this Agreement; or ii. transfers or novates any of its obligations pursuant to this Agreement, in a manner contrary to the provisions of this Agreement; Except where such transfer is in pursuance of a Law and; i. it does not affect the ability of the transferee to perform, and such transferee has the financial and technical capability to perform, its obligations under this Agreement; ii. is to a transferee who assumes such obligations under the Project and this Agreement remains effective with respect to the transferee; d. If: